Dalmia OCL acquires GSB Group GmbH, its first overseas buy

The takeover will give Dalmia-OCL access to customers in the heart of steel and refractory making belt in Europe.

KOLKATA: Dalmia-OCL, the refractories business of Dalmia Bharat Group, announced its first ever overseas acquisition of GSB Group GmbH – a German specialty refractory maker. The acquisition also marked the company’s expansion into Europe, an official statement said. The German company is a global leader in lance production, essential producing clean steel of good quality. The company, however, did not disclose the size of the deal.

The takeover will give Dalmia-OCL access to customers in the heart of steel and refractory making belt in Europe and state-of-the-art technology to produce cleaner steel, apart from strengthening its market share in India.

Dalmia-OCL is India’s second-largest refractory company with a production capacity of 250,000 tonne a year. The company expects a revenue of Rs 800 crore this year, 60% of which is likely to be contributed by the steel segment.

Speaking on the development, Sameer Nagpal, CEO, Dalmia-OCL said: “We are delighted as this acquisition marks our group’s first major step in Europe where consolidation in the market has opened new doors for a company like ours. Dalmia-OCL’s end-to-end refractory portfolio and GSB’s access to European steel customers will make this combination a strong competitor in Europe.”

The acquisition will also make us one of the specialized manufacturers of refractories, for cleaner steel production, a focus area for Indian steel makers too, he added. “It will give us newer resources and talents in Europe which will help strengthen our capability in India, which is the fastest growing market for refractories in the world,” Nagpal said.

Speaking on the occasion, Mark Runge, Managing Director, GSB Group GmbH said, “We are happy that the Dalmia Bharat Group and its refractory business have taken over the company. We built the GSB Group with a vision to service its customers in the region with world-class efficiencies and best-in-class talent. I am confident that with the experience and legacy of Dalmia this vision will only get better and move to the next level.”

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